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Employer untii such time as they are distributed in accordance with the
<br />provisions ot this Plan, except as provided in SecLOn 2 of this Parayraph
<br />Section 2. Transfer of Employment with Consideration E3etween
<br />Employers-Tnpartite Agreement !n the event the Employee accepts
<br />employment with a new empioyer partiapatiny in the ICMA-RC Deferre,?,
<br />Compensaticn Plan, then, if the past Employer finds that it has no present
<br />or future need of the tunds, assets, and accumulations in the said Account
<br />for the payment of its generai aeditors or for any other purpo,e what-
<br />soever, in consideration of its deslre to svoid the continwng c;:apense ot
<br />maintaining records, and receiving, examining, verifying and filing annual
<br />reports of the Retlrement Corporation, and in consideration of avoidiny tne
<br />possible tuture expenses of htigation of Employee s~~ontr;wng Coc-
<br />tractuai nghts to payment of deferred compensation on his retirement as
<br />herein provided in the event ot any possible future revocahon and
<br />withdrawat by the past Employer of the funds, assets. and accumulations
<br />in the said Account, the pasi Employer may, at its discretion, authoriza the
<br />Retirement Corporation, as i!s ageni, to propose to the new Emplayer that
<br />the tunds, asse4s, and accumulations of the said Account be transferred to
<br />the ownership, control, and right of withdrawal of the new Employer, and to
<br />do so in the event 'he new Employer, in consideration ot the mcreaseC
<br />valuc ot the Employee's servii es by reasGn of the experience gainedwhlie
<br />in past empicyment, agrees to accept same, arnd' the respective
<br />Emp(oyers and the Employee sign an apprcpriate form ol Ayreement in
<br />which the new Employer elso agrees to assume the continu,ny; ontraciual
<br />liabi!ity to pay deferred com.peosation so tr;nsferreC upon rehrement of
<br />the Employee and the FrrpIovEe releaseo tlle past Enq, yet trc.rn s;ud
<br />continumg ctiir:aatiotl to do same
<br />Section 3 P,iyrnent oi Drferr'ed n i ,,°r i,rn ~~llcm
<br />Emplnyment in the event a participat:ng Em~~'c.~ra";.+rf."_,m
<br />service with the Ernployer pnorto the desiana c d ..:k"• r f,:~,~ ,.3rs in thrr
<br />Joinder Agreoment, the Employer may direct tne Retirement Cc,rporation
<br />aS ager'it t0 l; Stub,itt th;° funds,1n'j ds5~!s of ,he D~_r!a ,rr~1 C~,c,~ s;ition
<br />Account to Lrnpl"ye>~ in une lump-sum payr -nt.
<br />14 LoSSeS The E~tipl~,y~_r ;hall nOt be ~FrSU I,- il,y n',_ i1ui, i„
<br />inve5tmen1 C'~r failure o' ,nves(men' ',f funUS 3lld . l. .,i,'i U~•'~~r~r,?
<br />Cumpensatien Acco.,n! nur sh,iil the Emnluyer I;t, rt-.;~nre;; r, rr{ '.:.~an;
<br />IUSS whatSGover which rn,ry re~5ui1 from 5<,:c1 ,nw~r,t^ier,h,
<br />15 Nonass,4nab,lity of Deterred
<br />his lifetime shall nM be entitiPd b comrnute
<br />dISpOSeOfh~srlghtStUfeCe'vedele l~ 1 _ ~ 5.r,..'ent ,
<br />tOr herBin, and ln- r,gnt thereio sho~I be I~;nc; ,~tr,3-is
<br />ferable In the event o` iny attempted assiqnrnErnt or r,nsf,-r ~ errot U~Employer Sha!l have no furtr,er habitity ~jnder th,s Ayrc~mrrtt
<br />16 Participation in Other Employee Benetit Nl,:ns Nothirij h,rer
<br />tained 5hd1; ;r. 3ny rnanner modity impair. or 3ftect ih. eni5'.ir, 1 r F;tur~a
<br />nyh!s or interest o"t the cmp oyee O",o recFv~~ .;ry r~:,y~-r~~nr'~ts
<br />which he wouId otherwise Ce entiiled, or (b) as a par?ic,pant in any t~;ture
<br />penSio❑ plan_ it beiny underStooG' thai :he nqhts 2ind nterest' Ot lhe
<br />EmployF,e to :iny emplOyee tienrt,Is Or ~i5 3 p.vt,,~iDmnt or h,,netici.iry,n Or
<br />under any or all suct, pl;3n; rrs~uctrvely ;h,il coi,tinwe in tuil for~~c~ ,nd
<br />eNect unirnpa:,ed, and the cmployee sh.ill i;ave t`~,: nqht a! iny hnie
<br />hereatte o:iteome a bFne`ic,ary under or uAjrsu~,nt to awy .ind .i,I suc~~
<br />plans
<br />17 Definitions The ine;ining of any tNrni or !erms, Phr.isEt clause. _,r
<br />Sentence us~~ei in ih~s Ayreement w'?r~h is al , i~sed ~ the By-Laws ~f the
<br />Retirement Corpoi atiur. srail bL de`med as these ~3rt ~r(u~ea m AHTICI "r_
<br />II, Sechon 2 ef the By-Laws Masculine pronnuns whenever used herr in,
<br />inetude the terninn,e pronGuns, anr ,ht> sirjular in,lu '.s the plLiral uni"ss
<br />the Context requirt>s anotf er mF,anlng
<br />18 Valicity o1 Ayreement Tr~~is Ajoe~~inent shall ~iot Ue v:I~d ix en
<br />forceabie uniess siqned by an o,?icer ef ErioloyeE ~_itt.~~n~ed by tY-
<br />qoveming Li~dy of ttit, Fmpioyer. ..5 tor ex.un;,le thc~ (,lty G>,inaL and
<br />uNeSS thi9 Agr'Bement is impir«l ~ ti:1 !.~y It o rxee.it c. of 1~ ~ J0111d"'r
<br />Agreement
<br />PAkTII MASTERTRUSTAGREEMENT
<br />AGREEMEM rnade Uy aiiil betwetm the aforenamed Employer and the
<br />International City MunL1yeinen1 Association Retiremenf Gosporation
<br />(hereinafter the "Trustee'or "Retuernent Corporation"). a ronp+'oht
<br />Corporation oryanized anc7 L-,;sting under the laws of the State ot
<br />Delaware, for the purpose ot mvestmg and otherwise adrrtiinistering the
<br />tt:nds scr', aside by Employer; ni conneciion with Defe+rred Com~;(,nsahon
<br />Agreement; with F.mployees
<br />WNEREAS, the Employer dt~sires to enter mto agreements with its
<br />Empioyees whereby its Emp!oyees ayree to defer oayrrents of s;,>eafied
<br />percenWges <>f of t i ~unt~ l;om theu total compens;ition as'doferred
<br />comp5nsation is de tria,d ~ri sai(j aqreements untii the o'-urrence of
<br />certain events.
<br />WHEREAS. un ordar U)at there will be sutficient funds available lo
<br />disc.harge the to,eginy contractual otli~ations, the En'lpluyur desires to
<br />set aside ;-rio(,1ic.il'y -t+nol,, s equr?I to the amount of ccmper,~~tion
<br />deferre•d.
<br />WHEREAS the tui !1s sef ,i!,,de together with any and all investments
<br />theret0 :ur to be ux~ u;ivel~ within the dominiom. Contrpl. and nwnErship
<br />of the Employer _ind ; 'c, [nc Employer"s ab561ute right of with-
<br />drawal th,, Cnq>:o,re h<<oin_4 ic hterr_s[w;'rits~,evertherein.
<br />N04"J 1HEHF_f O}~E this~ A a•e-~r~r,n9 wrtne,seth thr,t (a) the Erployer
<br />will psq mcmes t~) tte ill;stNe tc hr p'sced in Deferred Cornpensation
<br />k tr fYw Empl, yc,, it,i 'hf. Tru 1~ c;:vr .:nl; th;~t it's:i!f h-d Sr,'d
<br />Sums. rvi i1 rn,iy r-,Pive' I,tir.dr r n Ir~ss!'..r thr
<br />uaO!, arldpi t' ses. i~ 1 iF,cn'h~tEri~n~ , ~dcoru'i"n;;na~~in.~ite~,I~atcrd.
<br />and (i;) rhe r"rrt', .iyr;-r ~is 'i;ilr~w5
<br />ARTICLE I. General Du6ea ot the Parties.
<br />>.~:ti„ri 1 1 (a<. ~,~.~I [).:ty if;~~ C.i~i{~luy~r~ Tt,~.• Em~'~oyarr Sh;t'I m[tk~~
<br />r~ 7cl,tr ~SEr ,n.1C l)l+,!ll.'nts .•quul t0 the ,~mC~untS 01 its r.h, h rire deterrrd ~n ~.c.cordiince wilh 'he tertii5 and
<br />_•~_L1 <,nti t DE~iF~, re ~1 C,,,ni,n ahen Lrnploymr 0 Anrewn en!,:w.iih;;uch
<br />;x v,-i!fl in, sir,~s~~quEatt ;n.i~lihc£iho ~'nPvl.:'uf
<br />,f the T,usteE- I. iru~,tEE sha!I hbld:il;
<br />f~,~ _ , ~J ~,y .1 ? ~ ~ • .4h:rh, t ~qefhN~ w I ~'ie uli,nr*i3 therefr:~i~i.
<br />F(irids... Ileet
<br />„ h..fe r,a'ir•
<br />[?r Tri,St ~r~,'~~icf arr tr.,n~,tF~rrc~d
<br />t._ i. r.,,,.. by ihP E 1I; C;y,F1 fr:; .,-,>!iil j U~'ieR-d
<br />E 1,:.I~)rt•- h n.., :ha_ Sdmt
<br />W,t i fi, ijre_r,? lt a I„'h~
<br />,3r , r~, '•i ~r~r~r"no-~r,;
<br />ARTICLE I!. Powers and Duties of the Trustee in inveskment,
<br />Administration, and Di~bursement at the Trust Funds.
<br />S :..p~n . l1,w,-s ind Dut,ts th,- Trus!el• 1'hf,
<br />Tru;!( , Sh.iP I~ - li lir in ~1', ~1l,,r1''nvi-5! tFU1 rrinv!:st ihe
<br />pmnciG~.il ,.n,1 ;ni.:n, ~f 'i~• It~r,t F:nds ,fn(1 ke~~p tlie Iii,sI Funds
<br />~rv(sted witlio;;t trtwiw-r•r .:rn1 mi;ornw ir such
<br />5ECUnIi~rS i,r r)tt~- l)r,~i'•J ir,,tf Or the
<br />~h~tqnt ,i 1vir~.it~le~ ~n,luilm:a Uut
<br />c[?mrn:,n r 101" --1 rt~tirt•rnf•nt ,nn,i!ty ind
<br />nuortgaqes ind uU"•t n1 indebtc+dnt~,s ur owne~sh,p. ;ind in
<br />Common tru5t'wid" ut >v(,d tin[fnCial nr inve5fmE-nt inSlitut;unS with
<br />sucn Instituli,?r)s ;;(.hn.; ot sut:h common 'rus' tur,ds, Or
<br />gt ~.~3r,+te r,r :1 (iith... i typ~, ; r fundS I.~~:i.o.,ntSl .ncludin_~ equ~ty tixud-
<br />~ and I, ! ilh r(:;~uirement, of tit ;t.r and local qc;verm
<br />menttil I;~v : f~SL;I-'isht,~f w tn Suc:;h 3pproved f n„na[il or m~e5(mt~nt
<br />ir ,tit:i!inm these, Trust Funds rnoy t c corrir7 inyl~.,d
<br />with Ahtrr~, •~1 ~,I;;~~h~•ct hy rh.TriiStee under th s1rm o} ,l(,r~~i1 ml ~f,! w~th
<br />~i!hw E~r~F,l~,,~rs In ni.~n~n,7 °uch inve•51niEnt, tt'~rrust,•° ;h;fll lr,t 13~~
<br />tiub,"„1,l?..i.;im"~.~ fioe~[ment „>r.cli
<br />f,inJS Inve• ti l,"~.! lx ' Onvust"d ~n {hk= (n.°,tk.t_.
<br />4
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